Attached files
file | filename |
---|---|
10-K - FORM 10-K - ASTA FUNDING INC | y81010e10vk.htm |
EX-23.1 - EX-23.1 - ASTA FUNDING INC | y81010exv23w1.htm |
EX-21.1 - EX-21.1 - ASTA FUNDING INC | y81010exv21w1.htm |
EX-31.1 - EX-31.1 - ASTA FUNDING INC | y81010exv31w1.htm |
EX-32.1 - EX-32.1 - ASTA FUNDING INC | y81010exv32w1.htm |
EX-31.2 - EX-31.2 - ASTA FUNDING INC | y81010exv31w2.htm |
EX-23.2 - EX-23.2 - ASTA FUNDING INC | y81010exv23w2.htm |
EX-32.2 - EX-32.2 - ASTA FUNDING INC | y81010exv32w2.htm |
EX-10.32 - EX-10.32 - ASTA FUNDING INC | y81010exv10w32.htm |
Exhibit 14.1
CODE OF
ETHICS
FOR
SENIOR FINANCIAL OFFICERS
FOR
SENIOR FINANCIAL OFFICERS
Section 1. | PURPOSE. |
The Board of Directors (the Board) of Asta Funding,
Inc. (the Company) has adopted the following Code of
Ethics (the Code) to apply to the Companys
Chief Executive Officer; Chief Financial Officer; Chief
Accounting Officer; Controller; and Treasurer (the Senior
Financial Officers). This Code is intended to focus Senior
Financial Officers on areas of ethical risk, provide guidance to
help them recognize and deal with ethical issues, provide
mechanisms to report unethical conduct, foster a culture of
honesty and accountability, deter wrongdoing and promote fair
and accurate disclosure and financial reporting.
No code or policy can anticipate every situation that may arise.
Accordingly, this Code is intended to serve as a source of
guiding principles. Senior Financial Officers are encouraged to
bring questions about particular circumstances that may involve
one or more of the provisions of this Code to the attention of
the Chair of the Audit Committee, who may consult with inside or
outside legal counsel as appropriate.
Section 2. | INTRODUCTION |
Each Senior Financial Officer is expected to adhere to a high
standard of ethical conduct. The good name of the Company
depends on the way Senior Financial Officers conduct business
and the way the public perceives that conduct. Unethical
actions, or the appearance of unethical actions, are not
acceptable. Senior Financial Officers are expected to be guided
by the following principles in carrying out their
responsibilities.
| Loyalty. Senior Financial Officers should not be, or appear to be, subject to influences, interests or relationships that conflict with the best interests of the Company. | |
| Compliance with Applicable Laws. Senior Financial Officers are expected to comply with all laws, rules and regulations applicable to the Companys activities. | |
| Observance of Ethical Standards. Senior Financial Officers must adhere to high ethical standards in the conduct of their duties. These include honesty and fairness. |
Section 3. INTEGRITY
OF RECORDS AND FINANCIAL REPORTING.
Senior Financial Officers are responsible for the accurate and
reliable preparation and maintenance of the Companys
financial records. Accurate and reliable preparation of
financial records is of critical importance to proper management
decisions and the fulfillment of the Companys financial,
legal and reporting obligations. Diligence in accurately
preparing and maintaining the Companys records allows the
Company to fulfill its reporting obligations and to provide
stockholders, governmental authorities and the general public
with full, fair, accurate, timely and understandable disclosure.
Senior Financial Officers are responsible for establishing and
maintaining adequate disclosure controls and procedures, and
internal controls and procedures, including procedures that are
designed to enable the Company to: (a) accurately document
and account for transactions on the books and records of the
Company; and (b) maintain reports, vouchers, bills,
invoices, payroll and service records, business measurement and
performance records and other essential data with care and
honesty.
Senior Financial Officers shall immediately bring to the
attention of the Audit Committee any information they may have
concerning:
(a) Defects, deficiencies, or discrepancies related to the
design or operation of internal controls which may affect the
Companys ability to accurately record, process, summarize,
report and disclose its financial data or
(b) Any fraud, whether or not material, that involves
management or other employees who have roles in the
Companys financial reporting, disclosures or internal
controls.
49
Section 4. | CONFLICT OF INTEREST. |
Senior Financial Officers must avoid any conflicts of interest
between themselves and the Company. Any situation that involves,
or may involve, a conflict of interest with the Company, should
be disclosed promptly to the Chair of the Audit Committee, who
may consult with inside or outside legal counsel as appropriate.
A conflict of interest can occur when an
individuals personal interest is adverse to or
may appear to be adverse to the interests of the
Company as a whole. Conflicts of interest also arise when an
individual, or a member of his or her family, receives improper
personal benefits as a result of his or her position with the
Company.
This Code does not attempt to describe all possible conflicts of
interest which could develop. Some of the more common conflicts
from which Senior Financial Officers must refrain, however, are
set forth below:
| Improper conduct not engage in any conduct or activities that are inconsistent with the Companys best interests or that disrupt or impair the Companys relationship with any person or entity with which the Company has, or proposes to enter into, a business or contractual relationship. | |
| Compensation from non-Company sources. Senior Financial Officers may not accept compensation for services performed for the Company from any source other than the Company. Senior Financial Officers should obtain the approval of the Audit Committee prior to accepting any paid employment or consulting position with another entity. | |
| Gifts. Senior Financial Officers and members of their immediate families may not accept gifts from persons or entities where any such gift is being made in order to influence their actions in their position with the Company, or where acceptance of the gifts could create the appearance of a conflict of interest. | |
| Personal use of Company assets. Senior Financial Officers may not use Company assets, labor or information for personal use, other than incidental personal use, unless approved by the Chair of the Audit Committee or as part of a compensation or expense reimbursement program. | |
| Financial Interests in other Businesses. Senior Financial Officers should avoid having an ownership interest in any other enterprises, such as a customer, supplier or competitor, if that interest compromises the officers loyalty to the Company. |
Section 5. | CORPORATE OPPORTUNITIES. |
Senior Financial Officers are prohibited from: (a) taking
for themselves personally opportunities related to the
Companys business without first presenting those
opportunities to the Company and obtaining approval from the
Board; (b) using the Companys property, information,
or position for personal gain; or (c) competing with the
Company for business opportunities.
Section 6. | CONFIDENTIALITY. |
Senior Financial Officers should maintain the confidentiality of
information entrusted to them by the Company and any other
confidential information about the Company, its business or
finances, customers or suppliers that comes to them, from
whatever source, except when disclosure is authorized or legally
mandated. For purposes of this Code, confidential
information includes all non-public information relating
to the Company, its business or finances, customers or suppliers.
Section 7. | COMPLIANCE WITH LAWS, RULES AND REGULATIONS. |
Senior Financial Officers shall comply with laws, rules and
regulations applicable to the Company, including insider trading
laws, and all other Company policies. Transactions in Company
securities are governed by the Companys Insider Trading
Policy.
50
Section 8. | ENCOURAGING THE REPORTING OF ANY ILLEGAL OR UNETHICAL BEHAVIOR. |
Senior Financial Officers must promote ethical behavior and
create a culture of ethical compliance. Senior Financial
Officers should foster an environment in which the Company:
(a) encourages employees to talk to supervisors, managers
and other appropriate personnel when in doubt about the best
course of action in a particular situation; (b) encourages
employees to report violations of laws, rules and regulations to
appropriate personnel; and (c) informs employees that the
Company will not allow retaliation for reports made in good
faith.
Section 9. | CONCLUSION. |
Senior Financial Officers should communicate any suspected
violations of this Code promptly to the Chair of the Audit
Committee. The Board or a person or persons designated by the
Board will investigate violations, and appropriate disciplinary
action will be taken by the Board in the event of any violation
of the Code, up to and including termination. Only the Audit
Committee may grant any waivers of this policy.
51